GAIL (INDIA) Share price

OUR HISTORYThe Company was incorporated on August 16 1984 under the name "GasAuthority of India Limited". The name of the Company was changedpursuant to the requisite approval under the Companies Act to GAIL(India) Limited on November 22 2002.1. Key EventsGAIL was incorporated on August 16 1984 as a public limited companyunder the Companies Act 1956. At the time of incorporation all of ourshares were held by the GoI.We were established to lay an onshore pipeline from Hazira on the westcoast to supply natural gas to facilities in the states of GujaratRajasthan Madhya Pradesh and Uttar Pradesh. Construction on thispipeline began in 1986 and was completed in 1988. In 1991 weconstructed our first LPG plant at Vijiapur. In 1992 we took overcertain of the Regional Pipelines from ONGC and completed our secondLPG plant also at Vijiapur. We completed a third LPG plant at Vaghodiain 1993. In 1995 the Government sold 28.5 million equity sharesrepresenting 3.4% of the Company's equity capital to domestic andqualified foreign investors.In May 1995 we formed Mahanagar Gas Limited as a joint venture withBritish Gas and the Government of Maharashtra and own 49.75% of theequity shares.In 1997 we offered and allotted 331600 shares to employees who hadbeen employed on April 1 1995.In December 1998 we formed Indraprastha Gas Limited as a joint venturewith BPCL and own 22.5% of the equity shares in Indraprastha. In April1998 we formed PLL a public limited company under the Companies Actin which we hold a 12.5% equity interest. In June 2001 we invested inGujarat State Energy Generation Limited and own 12.85% of its equityshares. In 1998 we completed LPG plants at Usar and Lakwa. In July1998 we completed a Rs.23.8 billion upgrade of the pipelinecompressors and various terminals along the HVJ pipeline.In February 1999 the Government sold approximately 30.6 millionshares representing a further 3.6% of our equity capital to variousdomestic and foreign institutional investors in a private placement. InMarch 1999 the Government sold approximately 5% of its equity capitalin us to each of IOC and ONGC representing a total of 81.7 millionshares.In March 1999 we commissioned our petrochemical complex at Pata andadditional LPG plants at Gandhar in March 2001 and at Pata in March2000. In March 1999 we purchased from the Government 2.5% of itsequity interest in ONGC representing a total of 34.3 million sharesfor Rs.5.6 billion. In October 1999 we entered into a Memorandum ofUnderstanding with ONGC to purchase natural gas from existingdiscoveries which are under production.In September 2003 we formed Bhagyanagar Gas Limited a joint venturewith HPCL and own 25% of the equity shares.